Capital markets regulator <keyword id="35210" type="General" weightage="100" keywordseo="SEBI" source="Orion">SEBI</keyword>'s proposal for introducing a new asset class for high-risk profile investors can help them gain access to a newer set of strategies including long-short equity funds and inverse <keyword id="187070" type="General" weightage="20" keywordseo="Exchange-traded-Funds" source="Orion">Exchange-traded Funds</keyword> (<keyword id="19930506" type="General" weightage="20" keywordseo="ETF" source="keywords">ETF</keyword>). The new asset class is aimed at bridging the gap between mutual funds and <keyword id="20155415" type="General" weightage="20" keywordseo="portfolio-management-services" source="keywords">Portfolio Management Services</keyword> (PMS), in terms of flexibility in portfolio construction. SEBI's consultation paper floated on Tuesday on 'new asset class' and creating a structure for differentiated, higher risk strategies looks very promising, <keyword id="19954203" type="General" weightage="20" keywordseo="radhika-gupta" source="keywords">Radhika Gupta</keyword>, MD and CEO of Edelweiss Mutual Fund said. "India is finally opening up to different investment products, styles and approaches. Passive, factor, inverse ETFs, alts and more. There is no single way to invest," she added. In its consultation paper, the regulator said the new asset class will provide a regulated product with features like SIP (<keyword id="6359303" type="General" weightage="20" keywordseo="Systematic-Investment-Plan" source="Orion">Systematic Investment Plan</keyword>), higher risk-taking capability, and a higher ticket size, to meet the needs of the emerging category of investors. The regulator suggested a minimum investment of Rs 10 lakh for the new asset class, which could be permitted to invest in derivatives for purposes beyond just hedging and rebalancing. This higher threshold will deter retail investors from investing in this product, while attracting investors, with investible funds between Rs 10 lakh and Rs 50 lakh, who are being drawn to unauthorised and unregistered portfolio management service providers," the regulator said. "SEBI's consultation paper for introducing new product classes with higher investment minimum than mutual funds and more freedom to invest can help investors gain access to a newer set of strategies like Long-short equities, inverse ETFs, etc which can help them express specific views on the market," Kaustubh Belapurkar, Director - Manager Research of Morningstar Investment Research India, said. <keyword id="22445326" type="General" weightage="20" keywordseo="Long-short-equity-fund" source="Orion">Long-short equity fund</keyword> seeks to deliver returns by taking long and short positions in equity and equity-related instruments. For example, the fund may be bullish on the automobile sector and bearish on the IT sector and may invest in both these sectors by going long on the automobile sector and short on the IT sector. Inverse ETF aims to generate returns that are negatively correlated to the returns of the underlying index. Dezerv Co-Founder Sandeep Jethwani said higher-risk profile investors can now access regulated opportunities without the high minimum thresholds of PMS and AIF or resorting to unregulated structures that bode really well for the protection of wealth that India creates. This new asset class is poised to leverage the exponential growth expected in managed assets (MFs, PMSs and AIFs) in the next 5-7 years, he added. SEBI believes that over the years, a notable opportunity for a new asset class has emerged between mutual funds and PMS, in terms of flexibility in portfolio construction. "The absence of such an investment product appears to have inadvertently propelled the investors of this segment towards unregistered and unauthorised investment schemes. Such schemes often promise unrealistically high returns and exploit the investors' expectations for better yields, leading to potential financial risks," it added.

SEBI's proposal on new asset class for high risk takers looks promising, note experts

<keyword id="4551565" type="General" weightage="50" keywordseo="edelweiss-asset-management-ltd" source="Orion">Edelweiss Asset Management Ltd</keyword> has launched 'Edelweiss Gold and <keyword id="14800318" type="General" weightage="100" keywordseo="silver-etf-fund-of-fund" source="Orion">Silver ETF Fund of Fund</keyword>', which will open for subscription today and closes on September 7. "Edelweiss Gold and Silver ETF Fund of Fund is suitable for investors seeking to invest in asset classes that can aid portfolios during the downturn. It can help investors offset the volatility in their equity portfolios. Both metals have underperformed in recent times and the dollar index, which has an inverse correlation with gold and silver, may weaken in the near term, hence, it could be a good time to invest in gold and silver at this point in time," said <keyword id="144969" type="General" weightage="80" keywordseo="radhika-gupta" source="Orion">Radhika Gupta</keyword>, <keyword id="14800319" type="General" weightage="20" keywordseo="md-ceo-edelweiss-asset-management-limited" source="Orion">MD &amp; CEO Edelweiss Asset Management Limited</keyword>. Gold and silver have proven to be popular investment tools in current times as they offer a hedge against inflation. These precious metals also have a low correlation with equities and therefore offer you better diversification. Compared to physical gold and silver, the <keyword id="6354820" type="General" weightage="50" keywordseo="mutual-fund" source="Orion">Mutual Fund</keyword> structure offers greater convenience, affordability, and liquidity. A mix of gold and silver is ideal as gold performs well during the recession while silver outperforms during precious metal bull rallies. Both provide a good hedge against inflation in the long run and have low correlations with equities. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/brick-and-mortar-retailers-are-growing-and-fuelling-e-retail-growth-too/articleshow/93749847.cms">Brick and mortar retailers are growing and fuelling e-retail growth too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/asus-zenbook-s-13-oled-review-a-sleek-all-purpose-ultrabook-at-a-premium/articleshow/93749502.cms">Asus Zenbook S 13 OLED review – a sleek all-purpose ultrabook at a premium</a>

Edelweiss AMC's gold and silver ETF Fund of Fund opens for subscriptions today

HangoutwithBI Diwali special with Radhika Gupta and Nalin Moniz

<ul><li><keyword id="28120" type="General" weightage="100" keywordseo="linkedin" source="Orion">LinkedIn</keyword> has announced the launch of its <keyword id="13231129" type="General" weightage="20" keywordseo="creator-accelerator-program" source="Orion">Creator Accelerator Program</keyword> in India, to support 200 creators to grow their communities and build engaging content.</li><li>The 10-week incubator-style program will provide creators with coaching, recognition, resources, and a financial grant to bring their ideas to life.</li><li>India is the second market where LinkedIn has rolled out the program, after its launch in the US. </li><li>Leading LinkedIn creators <keyword id="909713" type="General" weightage="20" keywordseo="ankur-warikoo" source="Orion">Ankur Warikoo</keyword>, <keyword id="144969" type="General" weightage="20" keywordseo="radhika-gupta" source="Orion">Radhika Gupta</keyword>, <keyword id="334991" type="General" weightage="20" keywordseo="pooja-dhingra" source="Orion">Pooja Dhingra</keyword>, and Nuseir Yassin have come on board as mentors on the program.</li></ul>In September 2021, LinkedIn had announced a $25 million investment in creators globally through the Creator Accelerator Program (CAP), a 10-week incubator-style program to help people grow their audience and engage with the platform’s community. Following the US launch, LinkedIn is launching the program in India today. LinkedIn’s program comes at a time when the creator economy in India is booming. While social media was increasingly becoming important in our lives over the past decade, things got just the push it needed during the pandemic. With all of us stuck at home, businesses had to come online and reach out to their consumers through digital. This was the time when social media became the most important touchpoint, be it cooking tutorials, home workout videos or home music gigs, these platforms came to our rescue. With people spending more and more times on these platforms, advertisers realized the massive opportunity. And that’s when content creators, who had been using these platforms to build their audiences, came into their own. If a recent report by <keyword id="1261460" type="General" weightage="20" keywordseo="inca" source="Orion">INCA</keyword>, GroupM’s brand-safe influencer and content marketing solution unit is to be believed, the influencer market, which was said to be around Rs 900 crore by the end of 2021, is expected to grow at a CAGR of 25% till 2025 to reach a size of Rs 2,200 crore. So the opportunity is massive! LinkedIn has now brought CAP to India to help creators grow their impact on the platform. The Creator Accelerator Program is a 10-week incubator-style program through which LinkedIn will offer 200 creators a financial grant, access to LinkedIn tools, creator-to-creator networking opportunities, coaching workshops, and mentorship opportunities with LinkedIn thought leaders Ankur Warikoo, Radhika Gupta, Pooja Dhingra and <keyword id="13231128" type="General" weightage="20" keywordseo="nasir-yessein" source="Orion">Nasir Yessein</keyword>. “Creation on LinkedIn is about the opportunities that can happen when our members connect. Our vision is to create ‘Opportunity through Connection’,” explained <keyword id="1818946" type="General" weightage="20" keywordseo="ashutosh-gupta" source="Orion">Ashutosh Gupta</keyword>, India Country Manager at LinkedIn. “When people create engaging content on LinkedIn, it leads to conversations, and the more conversations take place, the more opportunities are created for all members on the platform. This could be through a job lead, a key insight, an exchange of ideas, or a new skill. LinkedIn is a trusted platform where creators can build their audience in a relevant, professional context with direct access to brands, other professionals, and institutions and have the potential to create long-term business opportunities for themselves on the platform,” he added. LinkedIn will bring on board creators from a diverse range of backgrounds, experiences, and expertise to be a part of the program, who can create a variety of content using LinkedIn tools such as video, newsletters, and short-form posts. The platform is also encouraging Hindi language creators to participate in this program. “The creators will be shortlisted on the basis of their ability to build passionate communities, unique content, and spark discussions around a variety of professional topics such as skills, future of work and mental health, and find ways to engage with LinkedIn’s 85+ million members in India in a meaningful way,” shared Gupta. The idea of bringing some of the mentors closer to the growing creator community is to help them learn from their journeys. On a few challenges that he faced when he started out on his content-creation journey, Warikoo said, “For me, it was testing with different content types, different media formats and understanding the pulse of the audience - what they reacted to favourably and what they dismissed.” On why he decided to mentor for the program, he added, “Having experienced a fulfilling content creation journey on LinkedIn for over 7 years, I wished for other creators to realise the power of content and LinkedIn as a platform. Through this role I hope to share lessons so that they do not make the same mistakes I made.” We asked Radhika Gupta, MD and CEO, Edelweiss AMC about a few tips she could share with creators. She said, “The number 1 tip that I have is, you should be authentic. I know it sounds very simple, but really do what works for you. It’s also important to be focused on a particular space. You don’t want to be someone who’s commenting on food, work-life balance, sports, finance and everything. Be focused and really write what comes to your heart. We often think that you need earth-shattering or ground-breaking discoveries to post content. I think you need simple, honest content that comes from the heart, that can resonate with the reader. Another thing critical in the creator journey is consistency. One of the things I have learned is that you have to constantly keep posting content. That doesn’t mean that you do something every day. It also doesn’t mean that you do something once in two months. Moreover, LinkedIn is a professional platform and one should be very appropriate. And once you get started and you experiment, you’ll figure out what works and what doesn’t work for you. So I would really encourage you to get started, write something authentic. Try to do it consistently, and find one or two spaces that you are going to be focused on.”

LinkedIn has launched its Creator Accelerator Program in India today, here’s all there is to know about it

‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season

New Delhi, July 15 (IANSlife) Bollywood actress Radhika Apte feels "it's important to sometimes not do anything and take a break". "There is so much going on in the world, I am just happy staying put and not thinking of the future because there is much uncertainty out there. I am just taking each day at as it comes," Radhika tells IANSlife. The "Andhadhun" actress shares she is spending most of her time during the lockdown "doing nothing. But eating well, sleeping a lot, exercising, walking and watching and reading. The only thing I have missed is seeing my mum, my family." The actress, who confirmed she hasn't resumed working, recently launched a new watch The Iconic Link Lumine from Daniel Wellington. Radhika has been associated with the brand as its ambassador for three years now. Speaking about her personal style, Radhika shares: "I love its simplicity and elegance... I am somebody who loves minimalism. I like to keep it very clean and simple." Asked if she swears by brands, the actress replied: "I don't really swear by brands as such. Like, I was a brand person earlier; actually my work made me more aware of brands, and designs and fashion. Also, certain important things like skincare and haircare, I have tried and tested so many things and have personally taken interest in so many products of different brands." (Puja Gupta can be contacted at puja.g@ians.in) --IANS pg/tb/

It's important to sometimes not do anything: Radhika Apte

<ul><li>Most economists believe that a 25-basis-point rate hike in April is almost certain. </li><li>This is after the February CPI inflation print came in at 6.44% – a number that is slightly lower than January’s print of 6.52%, but still above the Reserve Bank of India’s upper tolerance limit of 6%. </li><li>The <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword>, which has so far led rate hike action, is expected to take a pause in March due to the collapse of Silicon Valley Bank and Signature Bank. </li></ul>Shaktikanta Das-led Monetary Policy Committee (MPC) is expected to hike the <keyword id="43352" type="General" weightage="20" keywordseo="Repo-rate" source="Orion">repo rate</keyword> by 25 basis points (bps) come April, as retail inflation continues to remain hot and above the central bank’s upper tolerance limit of 6%. This is despite the fact that the recent collapse of Silicon Valley Bank and Signature Bank in the US has resulted in<a href="https://www.businessinsider.in/policy/economy/news/the-godot-recession-could-be-pushed-back-further-svb-crisis-could-force-us-fed-to-pause-rate-hikes/articleshow/98612680.cms"> analysts saying</a> the US Federal Reserve is likely to pause its rate hike spree to let the country’s banking system take a breather. While the US <keyword id="45672" type="General" weightage="80" keywordseo="fed" source="Orion">Fed</keyword> has led other central banks in raising interest rates so far, the Reserve Bank of India (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) could stick to its guns regardless of what the Fed does on March 22, when it meets to decide the direction of its monetary policy, analysts say. “The RBI will remain hawkish in the April policy as inflation prints have spiked back over 6% in January-February along with core inflation remaining sticky above 6%. We continue to expect a 25 bps repo rate hike in the April policy,” said Suvodeep Rakshit, senior economist, Kotak Institutional Equities. Hundred basis points make up a percentage point. <cmsannotation type="cmsannotation" annotationid="Hot inflation, hawkish Das" comment="subhead" text="Hot inflation, hawkish Das">Hot inflation, hawkish Das</cmsannotation> Inflation running hot could also result in RBI’s Das maintaining his hawkish stance. Announcing the last rate hike in February, Das noted that core inflation has remained sticky. “On balance, the Monetary Policy Committee (MPC) was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored,” Das had said at the time. Since then, the inflation numbers have not been encouraging – the<a href="https://www.businessinsider.in/india/news/economists-are-shocked-concerned-and-worried-as-retail-inflation-hits-3-month-high-in-january/articleshow/97900258.cms"> January inflation</a> print came as a shocker, with the consumer price index (CPI) inflation rising from 5.72% in December to 6.52% in January. It was <a href="https://www.businessinsider.in/finance/news/retail-inflation-sees-marginal-fall-to-6-44-in-february-2023/articleshow/98610218.cms">6.44%</a> in February. This has prompted <a href="https://www.businessinsider.in/finance/news/inflation-expected-to-cool-down-but-economists-expect-another-rate-hike-after-january-shocker/articleshow/97983231.cms">analysts to suggest</a> that RBI could go in for another 25 bps hike in April, taking the repo rate to 6.75% and the quantum of hikes to 275 bps since May 2022. “We also believe that a 25-basis-point hike in April by the RBI is almost certain,” said Nikhil Gupta, chief economist at Motilal Oswal, adding that the worst of inflation was likely behind us. RBI’s next bi-monthly monetary policy meeting is scheduled for April 6. <cmsannotation type="cmsannotation" annotationid="April hike certain according to most economists" comment="subhead" text="April hike certain according to most economists">April hike certain according to most economists</cmsannotation> Despite the adverse developments in the US banking system, most analysts maintained that a 25 bps hike in April is almost a given. “We do think the upcoming meeting in April is going to be another 25 basis points hike, but thereafter we think the monetary policy committee is going to be divided,”<a href="https://www.businessinsider.in/finance/banks/news/rbi-may-hike-benchmark-lending-rates-by-25-bps-in-april-dbs/articleshow/98607945.cms"> said</a> Radhika Rao, senior vice president and economist, DBS Bank. On the other hand, according to Siddhartha Sanyal, chief economist and head of research at Bandhan Bank, the developments in the banking sector in the US “will likely have a bearing on the Fed’s course of action, and, thereby, on monetary policy across countries.” In conjunction with the drying up of excess liquidity in the Indian banking system, the “bar for further hike in the repo rate has moved higher,” according to Sanyal. Economists at SBI Research have pushed back their estimates by a month for inflation cooling down to 5% – they now see it happening by April, from March earlier. “Inflation will decline materially and come down to 5% by April 2023. For Q1 FY24, we expect an average CPI of 5.1%,” said a report by SBI Research. RBI has projected CPI inflation at 6.4% for FY23 and 5.3% for FY24. While the April rate hike is almost certain now, further hikes will depend on whether or not there are more inflation shockers in store. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/indian-banks-pass-jefferies-silicon-valley-bank-test-brokerage-finds-them-well-placed/articleshow/98628328.cms">Indian banks pass Jefferies’ Silicon Valley Bank test, brokerage finds them ‘well placed’</a> <a href="https://www.businessinsider.in/policy/economy/news/the-godot-recession-could-be-pushed-back-further-svb-crisis-could-force-us-fed-to-pause-rate-hikes/articleshow/98612680.cms">The ‘Godot’ recession could be pushed back further, SVB crisis could force US Fed to pause rate hikes</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-stocks-rally-after-group-prepays-2-15-billion-margin-linked-loans/articleshow/98601176.cms">Adani stocks rally adds ₹2.61 lakh crore to group market cap in March so far</a>

RBI largely expected to hike repo rate by 25 bps in April even as US Fed expected to take a pause

<ul><li>Paytm, PB Fintech (Policybazaar), Cartrade Tech and many others are among IPOs that lost much of investors’ money after listing.</li><li>83 companies went public on stock exchanges since 2021.</li><li>Analysts say that retail investors should study the company profile, financials, corporate governance track record in comparison to their competitors before making a bet.</li></ul>In the last two years, 83 companies listed on stock exchanges and some of them have destroyed investor wealth. Investors have made fortunes by investing in IPOs since 2020, but some of them have destroyed wealth. Out of these companies, only 30 companies are trading below their issue price right now. The rest have remained true to investors. Paytm, PB Fintech (Policybazaar), Cartrade Tech and many others are among IPOs that lost much of investors’ money after listing. One thing common among some of these IPOs is that they are new-age companies with less industry track record to rely on. Here are top 10 IPOs that are highly below their issue price <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 10 companies below their offer price </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% loss in market price from issue price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">One 97 Communications </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-68.80% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Suryoday Small Finance Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-68.85% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cartrade Tech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-62.24% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fine Payments Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-61.55% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AGS Transact Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-54.34% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-50.79% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Krsnaa Diagnostics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-47.58% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Windlas Biotech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-48.18% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Glenmark Life Sciences </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-46.98% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rategain Travel Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-32.38% </td></tr></tbody></table> So the question is — what are the parameters that need to be checked before investing in an IPO? Analysts say retail investors should study the company profile, financials, corporate governance track record in comparison to their competitors before taking a bet. “Before investing in an IPO and to avoid major losses, retail investors need to study the company’s filings which are on public domain, look at their corporate governance practices, financials, debt levels, company’s performance in comparison to its peers, their issue price compared to listed peers share price,” Pranav Haldea, MD at Prime Database Group. He further said that a lot of new-age companies like Paytm, which do not have peers and are new to the investor eye, make it difficult to gauge their valuation. Even SEBI chairperson Madhabi Puri Buch has addressed the need for more clarity and details on IPO pricing. She urged IPO-bound companies to abide by regulations and sought out for more transparency, and better disclosures. The fact that shares of several companies have lost their ground post-listing raises the question on IPO pricing. SEBI <a href="https://www.businessinsider.in/stock-market/news/sebi-wont-interfere-with-ipo-pricing-process-says-sebi-chief-madhabi-puri-buch-but-favours-better-disclosures/articleshow/94176189.cms#:~:text=favours%20better%20disclosures-,SEBI%20won't%20interfere%20with%20IPO%20pricing%20process%20says%20SEBI,Buch%20but%20favours%20better%20disclosures&amp;text=SEBI%20chief%20Madhabi%20Puri%20Buch%20asked%20IPO%20bound%20companies%20to,of%20equity%20value%20since%20inception.">chief in her recent speech </a>said that the regulator has nothing to do with what price a company chooses for an IPO; but urged companies to disclose every piece of information before going public. “If the company coming to IPO three or six months ago has placed its equity with some party (assume private party) at ₹100. And now it wishes to come to the market at ₹450. No problem, we have nothing to say in that. However, expect you to disclose to the investor what accounts for the difference between ₹100 and ₹450. Explain what has changed from the time you placed equity,” said Buch at FICCI’s ‘Annual Capital Markets Conference’ event last month. “A good company with an expensive valuation makes it a bad investment, a bad company at a good valuation is also a bad investment,” said Haldea. Another route to invest in a newly-listed IPO is through a mutual fund. Edelweiss MF has a fund named ‘Edelweiss Recently Listed IPO Fund’ that invests in quality IPOs that have either recently listed or are going to list to capture listing and post-listing gains. Here are some parameters that the fund house run by Radhika Gupta, its MD &amp; CEO goes through, before investing in the company. <ul><li>Try to invest in new-age businesses that are getting listed in the Indian market.</li><li>We invest in companies across sectors with a bias towards small and mid-caps that promise growth.</li><li>We do not invest in weak businesses that can be highly impacted by market shocks</li><li>We maintain the portfolio’s liquidity to face undue market fluctuations and redemption pressures.</li></ul>While some companies have destroyed investor wealth, there are also those which have trebled it. Defence equipment maker Paras Defence &amp; Space Technologies is on top of the list as the stock price ran up 275% since its issue price. Its IPO was also one of the biggest blockbusters in the stock market as it gave stellar listing gains. The key is to choose the right IPO. Here are the top 10 companies that made the most money for investors since listing. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 10 companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% gain in market price from issue price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence &amp; Space Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">275.37% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">209.50% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mtar Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">176.95% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Laxmi Organic Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">163.11% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">142.33% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tatva Chintan Pharma Chem </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">129.91% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rolex Rings </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">126.83% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nureca </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">123.15% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Easy Trip Planners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">119.91% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Devyani International </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">117.05% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty50-valuations-remain-expensive-but-experts-are-divided-on-indias-growth-prospects/articleshow/94704195.cms">Nifty50 valuations remain expensive, but experts are divided on India's growth prospects</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-markets-slide-with-the-rupee-and-weak-asian-markets/articleshow/94696114.cms">Stock markets slide with the Rupee and weak Asian markets</a>

Looking to invest in IPOs? Here’s how to pick winners and spot the duds

<ul><li>Income tax bonanza for the salaried class and the government’s capital expenditure push have emerged as the stars of Budget 2023-24.</li><li>While the income tax exemptions are expected to increase disposable incomes of taxpayers and thereby boost demand, the capex push is aimed at promoting growth and increasing job opportunities, say experts.</li><li>The government also announced a slew of measures for the agriculture and green energy sectors, promoting the use of technology to boost output and transition to green energy.</li></ul>An upward revision in income tax slabs and a continued push on capital expenditure investments emerged as the key highlights of the Union Budget 2023-24. While the revised tax slabs under the new tax regime will benefit the middle-class and salaried individuals, the government also announced a 33% increase in its capital investment outlay for FY24 to boost growth and promote job creation. “We are steering an ambitious people-centric agenda to address global challenges and to facilitate sustainable economic development,” finance minister Nirmala <keyword id="679937" type="General" weightage="80" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> said, announcing the budget. Despite an increase in capital expenditure outlay, the government has continued on its path of fiscal consolidation. Sitharaman said that while the government will meet the fiscal deficit target of 6.4% in FY23, it has been reduced to 5.9% in FY24, and further below 4.5% in FY 25-26. Sitharaman also announced that the gross borrowings are estimated at ₹15.43 lakh crore in FY24, lower than the Economic Survey 2023 estimate of ₹15.77 lakh crore. “This budget is a Bahubali budget. With one arrow multiple targets are shot. Fiscal prudence is achieved with lower deficit and path set till FY26. Consumption is supported through tax cuts. Investment outlay is enhanced. Numbers are realistic or conservative to enhance the credibility,” said Nilesh Shah, managing director, Kotak Mahindra Asset Management Company. <cmsannotation type="cmsannotation" annotationid="Here are all the major announcements of Budget 2023-24" comment="subhead" text="Here are all the major announcements of Budget 2023-24">Here are all the major announcements of Budget 2023-24</cmsannotation> Slabs for income tax computation enhanced under the new regime: Under the new income tax regime, individuals with an annual income of up to ₹9 lakh will now have to pay an income tax of ₹45,000, which is an effective tax rate of 5%. The government has also increased the limit for rebate under section 87A of the Income Tax Act to ₹7 lakh from ₹5 lakh earlier. The following are the new tax slabs: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Slab </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0-3 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3-6 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6-9 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9-12 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12-15 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 lakh and above </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In addition to this, there’s good news for salaried individuals as well, with the standard deduction being hiked to ₹52,500 from ₹50,000 earlier. Further, the tax exemption limit for leave encashment has been raised from ₹3 lakh to ₹25 lakh. Lastly, the new income tax regime will be applicable by default going forward. However, assessees will have an option to opt out and file their returns under the old regime. “More money in the hands of the middle class will have a cascading effect across the economy which needs this push as we continue to depend on domestic demand to beat the global uncertainty,” Sanjeev Krishan, chairperson, PwC in India. Capital expenditure outlay gets a major boost: In a bid to promote growth and job creation, the government has announced a 33% increase in capital expenditure outlay to ₹10 lakh crore for FY24, or about 3.3% of the gross domestic product (GDP). The capex outlay for FY23 is estimated at ₹7.5 lakh crore. Sitharaman outlined that infrastructure is one of the seven priorities of the government, which is now backed by the 33% increase in capex outlay for this segment. Overall, the government’s capex outlay has increased over three-fold from ₹3.1 lakh crore in FY19 to ₹10 lakh crore in FY24. Here’s how the government’s capex spending has trended since 2019 <div type="image" title="Capex spending FY19-FY24." msid="97524051" hostid="261" sizebytes="16064" caption="&amp;lt;p&amp;gt;Indian government&amp;#39;s capex spending trends since FY19&amp;lt;/p&amp;gt;"></div> “This is a positive development for domestic commercial vehicle space and more so for medium and heavy commercial vehicle (M&amp;HCV) domain,” said ICICI Direct. The government announced an allocation of ₹2.7 lakh crore for roadways and ₹2.4 lakh crore for railways. “A 33% increase in capital expenditure to ₹10 lakh crore, the highest ever, will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of ₹2.4 lakh crore in railways is commendable,” said Anand Rathi, founder and chairman, Anand Rathi Group. Apart from this, Sitharaman also announced an outlay of ₹10,000 crore per annum to develop urban infrastructure. The government has also announced a 66% increase in funding for the PM Awaas Yojana to ₹79,000 crore in FY24, which will benefit engineering, production and construction companies. Further detailing the infrastructure push, Sitharaman said that the government has identified 100 critical transport infrastructure projects for steel, ports, fertilizers and other sectors with an investment outlay of ₹75,000 crore, which includes a private sector investment of ₹15,000 crore. Agri Accelerator Fund to encourage innovation: In a bid to promote the adoption of technology in the agriculture sector, the government announced a new Agri Accelerator Fund to promote agri-tech startups in rural areas, with a cluster-based and value chain approach through public-private partnerships. “The proposal to set up an Agri Accelerator Fund for agri-tech startups is a welcome move, and was much anticipated. Agri-tech startups who are focusing on improving the market reach for agricultural products and produce, as well as last mile delivery of products to farmers should benefit from this move,” said Raj Ramachandran, partner, JSA. Sitharaman also announced a slew of measures for the agriculture sector, which are: <ul><li>Increase in agriculture credit target to ₹20 lakh crore, with a special focus on animal husbandry, dairy and fisheries.</li><li>A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of ₹6,000 crore to further enable activities of fishermen and fish vendors.</li><li>Computerisation of 63,000 primary agricultural credit societies with an investment outlay of ₹2,516 crore.</li></ul>Green energy ambitions get a boost: The government also announced a slew of measures to encourage and promote green energy in India, including ₹35,000 crore priority capital for transition from fossil fuels to green energy. Of this, the specific outlay for National Hydrogen Mission has been set at ₹19,700 crore. The government has set a target of 5 million metric tonnes of hydrogen production capacity by 2030. Key players in the hydrogen space are Mukesh Ambani and Gautam Adani. Their green energy bets, primarily based on green and blue hydrogen, amount to $125 billion. <cmsannotation type="cmsannotation" annotationid="‘Force multiplier’ budget, say analysts" comment="subhead" text="‘Force multiplier’ budget, say analysts">‘Force multiplier’ budget, say analysts</cmsannotation> Overall, the budget has been well-received by experts, with the broad consensus being that this is a growth-oriented budget. “Growth with fiscal consolidation continues to be the continuing theme with capital expenditure at 3.3% of GDP while being committed to the long term 4.5% deficit target. Providing more incentives under the new tax regime to middle class Indians, will also widen the net of those who can invest,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management. Sensex zoomed 1,180 points reacting to the tax announcements made by the government. The tax exemptions under the new regime will increase the disposable income in the hands of taxpayers, according to ICICI Securities, helping boost demand. “In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on infrastructure and agriculture which in our view would have a force multiplier impact on the economy,” said S Ranganathan, head of research at LKP Securities. According to economists, the reduction in fiscal deficit targets for FY24 through FY26 will also offer relief for bond markets, with the 10-year bond yield projected to moderate to 7-7.1% in FY24, according to Abheek Barua, chief economist, HDFC Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Income tax bonanza, capex push emerge as the stars of Budget 2023-24

<ul><li>On April 28, <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> released a circular asking mutual fund companies to provide 20% of salary in <keyword id="44804" type="COUNTRY" weightage="20" keywordseo="MF">MF</keyword> units to key employees. </li><li>The move came after the <keyword id="74229" type="PERSON" weightage="20" keywordseo="Franklin-Templeton">Franklin Templeton</keyword> fiasco to align the interest of the key employees with that of investors. </li><li>The heads of several mutual fund companies are disappointed as the new rule by SEBI translates 20% of their salary into mutual fund units. </li></ul>On April 28, 2021, SEBI informed the asset management companies (AMC) to provide a minimum of 20% salary/perks/bonus/non-cash compensation of key employees in the form of a mutual fund unit. The idea was to align the interest of the key employees with that of investors. A mutual fund unit is a portion of one’s investment from the pool of funds set by the mutual fund company. The move came after the Franklin Templeton <a href="https://economictimes.indiatimes.com/mf/analysis/how-franklin-fiasco-happened-and-what-we-learnt-from-it/articleshow/82210625.cms">fiasco </a>wherein the fund house one day suddenly closed six debt mutual fund schemes overnight citing poor liquidity condition in debt markets due to the pandemic-induced crisis. This led to panic among investors who were unable to access their investment thereon. The new mandate by the market’s regulator is applicable for key employees including chief executive officer (CEO), chief investment officer (CIO), chief risk officer (CRO), chief information security officer (CISO), chief operation officer (COO), fund manager, compliance officer, sales head, investor relation officer (IRO), heads of other departments and dealers of the AMC. Direct reportees to the CEO (excluding personal assistant/secretary), fund management team and research team are also included in this list. “After the Franklin Templeton incident, there is no enthuthiasm among newcomers to join the industry. Basically, it is no more an attractive career opportunity with so many regulations in place. These professionals would prefer working in a private equity, PMS (portfolio management services), AIF (alternative investment funds), fintech company which has less regulatory complications. With this, top talents will have one more reason to not choose the mutual fund industry as a career option,” said the chief executive of one of the top mutual fund companies on condition of anonymity. There is complete misalignment of mandatory investment for employees with varied risk appetite and investment time horizon, he added. “The circular on skin in the game, while a good idea in spirit, is going to be extremely problematic in implementation. This circular applies to not just senior employees but junior research staff, dealers, and support function heads. These people don’t earn the kind of money CEOs and CIOs do,” said Radhika Gupta, managing director and CEO of <keyword id="222564" type="COMPANY" weightage="20" keywordseo="Edelweiss-Mutual-Fund">Edelweiss Mutual Fund</keyword> in <a href="https://twitter.com/iradhikagupta/status/1387433870623055880?lang=en">a tweet </a>on April 28, the day SEBI released this circular. “It is forcing them to lock 20% of their income for 3 years. It mandates how much one saves. For a guy earning ₹15-20 lakh [in a year], imagine how difficult it is to put away ₹3-4 lakh [per annum]. We are constraining employee cash flows. Just because I run a mid-cap fund doesn’t mean this is my risk appetite. And a liquid fund manager has to park money in liquid funds for 3 years,” she added. In simpler terms, why would a 30-year-old fixed income fund manager invest a significant portion of his salary in a debt scheme. The objective of a debt fund is to grow wealth in a stable manner with typically lower returns and low risk compared to equity funds. Further, the fund houses have addressed these concerns to SEBI through Association of <keyword id="6357979" type="UNKNOWN" weightage="20" keywordseo="mutual-funds">Mutual Funds</keyword> in India (AMFI). It expects some sort of relief from the regulator in terms of reducing the percentage of salary to be given in MF units and cutting some junior level employees from the initiative. Considering this, SEBI has deferred the implementation of the new compensation norms by three months to October 1, 2021. The new rules were supposed to come into effect from July 1, 2021. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-exchanges-can-run-into-trouble-with-investors/articleshow/84205889.cms">Cryptocurrencies aren't all diamonds and roses — lawsuits from people who lost big are piling up with exchanges</a> <a href="https://www.businessinsider.in/business/auto/news/simple-energy-new-electric-scooter-promises-240km-range-on-a-70-minute-charge/articleshow/84164967.cms">This new electric scooter promises 240KM range on a 70-minute charge, could be priced under ₹1,20,000</a>

Getting a senior level job in a mutual fund company may not be so attractive after SEBI rule of giving 20% salary in MF units

<ul><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s IPO will open for subscription on Monday, seeking a valuation of $19.3-19.9 billion.</li><li>The price band has been set at ₹2,080-₹2,150 per share, with a lot size of 6 shares.</li><li>Marwadi Financial Services believes that the valuation is too demanding for a loss making company.</li><li>Angel One notes that Paytm is well positioned to gain from growth of digital payments and its valuation is justified.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — will launch its ₹18,300 crore ($2.4 billion) initial public offering (IPO) on Monday, at a price band of ₹2,080-₹2,150 per share. The lot size has been set at six shares, which means that a lot would cost ₹12,900 at the upper price band. The IPO will close for subscription on Wednesday, November 10, and the allotment will be announced on November 15. The listing date has been set at November 18. Paytm is seeking a valuation of $19.3-$19.9 billion with this IPO, which has not gone down well with several stock brokerages and this has reflected in their recommendations for this IPO as well. While AngelOne has given a blanket subscribe call for this billion dollar IPO, KR Choksey and Arihant Capital Markets have noted that the IPO can be subscribed for listing gains. <table class="redcator-table-advance" style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KR Choksey </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains “only” </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avoid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital Markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AnandRathi</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe Long Terms</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Earlier, Valuation guru Aswath Damodaran, a professor at New York University’s Stern School of Business — who valued <keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> at $20 billion in October 2021 — had noted that Paytm cannot be a passive buy and hold investment but would require more “active engagement and monitoring” of the company’s actions and performance. “...This is the type of stock that you would put 5%, or perhaps 10% of your portfolio in, not 25% or 40%,” he said in a<a href="https://aswathdamodaran.blogspot.com/"> blog post</a>. Watch More: Here's what analysts have to say about India's biggest IPO by Paytm <div type="Video" msid="87591265" hostid="261" title="Here’s what analysts have to say about India’s biggest IPO by Paytm" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87591265"></div> The valuation seems too demanding for some Marwadi Financial Services has noted that Paytm is at a great risk if the company fails to retain its customers, attract new customers, increase the volume of transactions from consumers and fail to maintain or improve its technology infrastructure. These risks — which were also mentioned in Paytm’s red herring prospectus (RHP) — have the potential to harm the company’s business, revenue, profitability and growth. Meanwhile, a KRChoskey report highlighted that there are two challenges ahead of Paytm's profitability — achieving a steady ‘take rate’ and keeping the customer and marketing costs low. A take rate is the fee charged by a marketplace on a transaction performed by a third-party seller or service provider. "In the last 5 years the company has focused on acquiring customers and increasing transactions both in value and volume terms. As a result, [the] take rate dropped from 2.18% in FY2017 to 0.79% in FY2021. Globally, if we look at the take rate, which more established payment services providers are able to achieve is in the region of 1.2% to 1.8%," the KRChoksey report added. Marwadi Financial Services have recommended investors to “avoid” Paytm’s IPO as the valuation is too demanding for a loss-making company. Jyoti Roy, deputy vice president of equity strategist at Angel One, has a different way of looking at it. He noted that the valuation does appear to be expensive, but Paytm brand has become synonymous with digital payments and is the market leader in the mobile payment space. “Paytm is well positioned to benefit from the exponential 5x [times] growth in mobile payments between FY2021 – FY2026 and hence believe that the valuations are justified,” he noted, adding that Paytm is valued at 49.7 times its FY21 revenues at the upper end of the price band. <div type="image" title="Looking to subscribe to Paytm’s IPO? Brokerage firms are not fully convinced" msid="87578251" hostid="261"></div> Revenue not an issue, but profitability is KRChoksey believes that Paytm will have to be on a high growth trajectory in revenue terms for a period of three years in order to sustain its current valuation. All of its three verticals — payments, financial services as well as cloud and commerce — will have to keep firing at an accelerated pace. “Looking at the past track record, we are reasonably confident that management will leave no stone unturned to achieve this. What remains to be seen is how this growth can be achieved without burning too much of cash,” the brokerage added. Arihant Capital Markets, on the other hand, noted that Paytm’s history of loss and negative cash flows in prior years have raised questions about its ability to turn profitable. A report by Reliance Securities added, "Paytm’s financial performance has not been encouraging over the years, with the company continuing to record an EBITDA loss and net loss. However, it has been witnessing an improvement in financial performance, with a continued fall in operating losses and net loss, mainly led by the contraction in marketing &amp; promotional expenses." WATCH ALSO: ‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season <div type="Video" msid="87579539" hostid="261" title="‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87579539"></div> SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/how-to-subscribe-to-paytm-ipo-on-zerodha-paytm-money-banks/articleshow/87510232.cms" data-type="tilCustomLink">Paytm IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money</a> <a href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-ipo-allotment-is-tomorrow-november-9/articleshow/87577397.cms" data-type="tilCustomLink">Fino Payments Bank IPO allotment tomorrow, investors had oversubscribed by over 2 times</a> <a href="https://www.businessinsider.in/tech/news/why-netflix-games-on-ios-could-be-slightly-different-than-android/articleshow/87577781.cms" data-type="tilCustomLink">Netflix games on iOS could be slightly different than Android, here’s why</a>

India's biggest IPO is here — here's what analysts have to say

Trigger Warning: Some may feel that the following content is disturbing. <ul><li>A UNICEF report reveals that around 14% of young people aged between 15-25 years or 1 out of 7 people often feel depressed or face some <keyword id="6354774" type="General" weightage="20" keywordseo="Mental-Health" source="Orion">mental health</keyword> related issues in India.</li><li>The <keyword id="8902449" type="General" weightage="20" keywordseo="COVID-19-pandemic" source="Orion">COVID-19 pandemic</keyword> has hit harder on young people and adolescents, as half of them reported that they or someone in their family had lost a job or taken a cut in pay.</li><li>Women who suffer from mental health issues are more likely to invite other diseases, especially problems related to fertility and menstruation.</li><li>Business Insider spoke to senior psychiatrist Dr. <keyword id="1808876" type="General" weightage="20" keywordseo="jyoti-kapoor" source="Orion">Jyoti Kapoor</keyword> to gain some perspective on this issue.</li></ul> A 21-year old girl, who recently graduated from Delhi University, says she has been facing anxiety issues for the last four years. The girl, who wanted to remain anonymous because of privacy concerns, suffered from massive anxiety issues for the first time when she had to appear for her board exams in class 12. Now, she has graduated from her college and is still thinking about what career path to choose. She says, “Whenever someone asks me about my future plans, I start panicking because I’ve nothing to tell. I graduated during the pandemic and I’m still undecided about my career.” It is not only students or fresh graduates who go through periods of anxiety and depression. More and more women, especially from Generation Z — persons born in the mid-to-late 1990s — seem to be open about their mental health concerns. Radhika Gupta, a 23-year old woman from Delhi, who has her own business of handicraft products shares her mental health journey with Business Insider. “Whether you do a 9-5 job or you start your own company, the professional world comes handy with overthinking, stress, tension and whatnot. It’s like I’m already so used to this habit of overthinking and [being] tense all the time, that now I don’t feel like it's a problem anymore,” says Gupta. She highlights some major issues that she faces on an everyday basis because of her gender. “I have given my number on my Instagram page named ‘Handflys’ for customers who want to place an order for my products. And, on an everyday basis, I receive inappropriate messages and calls. I ignore this most of the time, but sometimes I’m so tense and can’t stop thinking about it.” Another 25-year old woman, a public relations specialist who recently got married, spoke to Business Insider on the condition of anonymity. She talks about how unmanageable her life has become after getting married. She has to manage her work as well as her home — cook meals and take care of her new in-laws. She says, “I wake up at 6 in the morning and I don’t know where all my time goes. I start my office work at 9 a.m., and before that I’m responsible for making breakfast for everybody. I even have to take several breaks in between my office hours as I have to cook lunch and dinner as well. Sometimes it becomes unmanageable for me to handle both the things, I often feel like quitting my job as I don’t have time for myself or do something that makes me feel happy.” According to a report, dated October 5, 2021, by the United Nations Children's Fund (UNICEF), around 14% of young people aged between 15-25 years or 1 out of 7 people often feel depressed or face some mental health-related issues in India. And also, children of this group in India have been more resistant in seeking support for these issues, as per the report. People who face these issues, also find themselves distracted or uninterested most of the time, the report says. The report also notes that as the COVID-19 pandemic heads into its third year, the impact on children and young people's mental health continues to weigh heavily. The reason behind this has a lot of key driving factors. As per the Indian Journal of Psychiatry, even before the pandemic, at least 50 million children in India were affected with mental health issues and 80-90% of them have not even sought professional support. Another report by Pew Research Center <a href="https://www.linkedin.com/pulse/why-gen-z-so-depressed-what-we-can-do-jennifer">highlighted </a>that the pandemic has hit harder on young people and adolescents, as half of them reported that they or someone in their family had lost a job or taken a cut in pay, and also most of them haven’t yet established their careers and they’ll likely have a harder time getting back on track. To have a better understanding and gain some perspective, Business Insider spoke to Dr. Jyoti Kapoor, senior psychiatrist and founder of Manasthali, an online platform, which provides mental health related services. Kapoor is of the opinion that young people are succumbing to <keyword id="24492" type="General" weightage="20" keywordseo="Mental-health-problems" source="Orion">mental health problems</keyword> far more today than compared to a few years back. “We see a lot of stimulation, a huge amount of information regarding anything is out there and this information exposes us to a lot of conflicts. A younger mind is not ready to handle those conflicts. So the stress levels are pretty high, especially expectations from ourselves,” says Kapoor. Further talking about stimulus, she also highlights that people of this age group (15-25) are almost starters or freshers who are just entering the professional world or are heading towards career-deciding exams. People of this age group have over the time become more competitive, or have a jealousy factor that shoots up the anxiety and stress level way more, according to Kapoor. “Younger people want to achieve success very fast. People now want to have their own startups, they want to have luxurious items and that can become quite stressful as people don’t want to give up so easily,” she adds. The people who belong to Gen Z are mostly night owls rather than early risers as compared to millennials, says Kapoor. A study cited by The Economic Times in 2018 <a href="https://economictimes.indiatimes.com/magazines/panache/sleepless-in-the-city-53-per-cent-indians-go-to-bed-late-thanks-to-facebook-instagram/articleshow/65559905.cms">revealed</a> that 53% of Gen Z population in India go to bed late or sleep late due to gadgets or social media scrolling. “Not only people using social media or watching Netflix, the globalisation of work culture has also eradicated the sleep culture. People more often come across work-related situations at night, which disrupts their sleeping patterns.” — Dr. Jyoti Kapoor, a senior psychiatrist Mental health not only disrupts your peace of mind, but it brings out a chain of side effects in your body. Women who suffer from mental health issues are more likely to invite other diseases, especially problems related to fertility and menstruation. “PCOS [Polycystic Ovarian Syndrome] and PCOD [Polycystic Ovarian Disease] are one [sic] of the major psychosomatic problems. As it is a problem of hormonal imbalance, it requires treatment of stress management. Mental health can also bring you infertility issues. Higher the person is stressed, the lower will be the chances to conceive,” Kapoor highlights. A report by<a href="https://www.thehindu.com/sci-tech/health/one-in-five-indian-women-suffers-from-pcos/article29513588.ece"> The Hindu </a>says that one in five women in India suffer from (PCOS) or (PCOD). These are hormonal disorders in women, which affect their reproductive system. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/world-mental-health-day-2021-how-to-avoid-depression-in-kids-and-teens/articleshow/86886330.cms">World Mental Health Day 2021: How to avoid depression in kids and teens</a>

Are GenZ women suffering more from mental health issues?

New Delhi, Dec 4 () The government's decision to launch an umbrella debt exchange-traded fund will provide a better opportunity to retail investors for participation in quality public sector bonds at an affordable cost, experts said on Wednesday.
They further said the move would also help in deepening and widening the participation in the Indian corporate bond market.
The Union Cabinet has approved the launch of exchange traded fund (ETF) for bonds to create an additional source of funding for Central Public Sector Enterprises (CPSEs) and state-owned financial institutions.
The New Fund Offer (NFO) of this ETF is expected be to launched during December itself. 
Bharat Bond ETF would be the first corporate bond ETF in the country.
 "It's a historic occasion for retail investors as also for the Indian corporate bond market, for retail investors as they would now be able to invest in an altogether new liquid avenue in quality Public sector Bonds, through the very low-cost ETF structure," N S Venkatesh, Chief Executive at AMFI said on the Cabinet approval to bond ETFs.
 "And for the economy, as the country's first exchange-traded bonds belonging to quality public sector enterprises bundled in a liquid low-cost ETF structure, would help in deepening and widening the participation in the Indian corporate bond market," he added.
ETF will be a basket of bonds issued by state firms or any government organisation, and will be tradable on exchange. The unit size will be of Rs 1,000, which will allow small investors to invest.
Edelweiss Asset Management Company (AMC), which will manage the government's debt ETF, said Bharat Bond ETF will be a diversified basket of public sector company bonds aimed at providing easy access for retail investors to invest in these bonds and bringing liquidity in the corporate bond market. 
"It will also help these companies with new source of funding. Initially, the ETF will have two maturities -- 3 years and 10 years -- and will invest in bonds of similar maturities," Edelweiss AMC CEO Radhika Gupta said.
 Rating agency Icra VP and Sector Head- Financial Sector Ratings Anil Gupta said lower ticket size of bond ETF is likely to provide better opportunity to retail investors for participation in corporate debt market with lowest credit risk as the underlying investments are proposed to be in 'AAA' rated PSU debt securities.
"As these securities are proposed to be listed on stock exchanges with involvement of market markers, this will also provide liquidity to the investors. A three-year debt ETF is comparable with a three-year fixed maturity plans (FMPs), however unlike FMPs, which have limited secondary market liquidity, ETFs are expected to have secondary market liquidity," he added.
 Gupta further said investors may however be mindful of the risk which these ETFs will have because of interest rate movements, as during an increasing interest rate cycle, the market price of the ETF units will decline. 
 Interest rate risk will however be lower in shorter tenure ETFs, and if held till maturity, the interest rate risk will also be mitigated as the ETFs will be redeemed at face value on maturity.
"Bharat Bond ETF from Edelweiss AMC offers greater opportunities to invest in debt investments at an affordable cost. This is a positive development as far as Indian debt market is concerned," said Tarun Birani, founder and CEO of TBNG Capital Advisors. 
Moreover, of the total mutual fund assets under management of Rs 25 lakh crore, share of MF debt is about Rs 11 lakh crore and this shows the potential for this opportunity, he added. SP

 
 
 
 
 
 ANU

Debt ETF to give opportunity to retail investors to invest in quality PSU bonds: Experts

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<img class="gwt-Image" src="/photo/57794099.cms" /> 
 
The world is going online and to find quality talent, even companies seem to be looking for the right match on social platforms. 
 <keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> released the list of recruiters in India who have been ahead of the curve when it comes to recruiting smartly. 
 
<a href="http://www.businessinsider.in/this-fitbit-survey-reveals-that-indians-are-the-worlds-second-worst-sleepers/articleshow/57690294.cms">ALSO READ: This Fitbit survey reveals that Indians are the world’s second worst sleepers</a> 
 
From helping professionals discover and explore their dream jobs to fueling business growth, these recruiters continue to reimagine possibilities. 
 The <keyword id="4328594" type="UNKNOWN" weightage="20" keywordseo="top-social-recruiters">top social recruiters</keyword> list of 2017 includes professionals from start-ups, internet businesses, and technology companies. These top recruiters are ranked based on their effectiveness in attracting and hiring quality talent using LinkedIn. 
 
<a href="http://www.businessinsider.in/the-tale-of-tata-nullore-estate-coffee-that-made-it-to-the-starbucks-reserve-in-seattle/articleshow/57792529.cms">ALSO READ: The tale of Tata Nullore Estate coffee that made it to the Starbucks Reserve in Seattle</a> 
 The list was compiled based on each recruiter’s <keyword id="1771082" type="UNKNOWN" weightage="20" keywordseo="LinkedIn-Recruiter">LinkedIn Recruiter</keyword> Index (<keyword id="4202992" type="UNKNOWN" weightage="20" keywordseo="lri">LRI</keyword>)* for the period starting January 2016 to December 2016. Additionally, engagement level on the platform was also taken into consideration. The list acknowledges multiple recruiters from each organization, recognizing every recruiter’s efforts and contributions. 
 
The recruiters who have made it to the top 5 amongst 40 other social recruiters in India include: 
 
Manish Chandra Gupta, Orange Business Services 
 
Radhika Chandan,VMWARE, INC. 
 
Priyanka Rishi, McKinsey &amp; Company 
 
Tripti Pathak Tripathi, GENPACT 
 
Abhinav Sharma, Orange Business Services 
 
So, go ahead and add these genius talent searchers online to find the job that you deserve. 
 
About LinkedIn Recruiter Index 
 
LinkedIn's Top Social Recruiters showcases the most effective recruiters who have been successful at embracing social recruiting. We ranked talent acquisition professionals based on their effectiveness of attracting and hiring quality talent using LinkedIn. This list was compiled based on each LinkedIn Recruiter user's LinkedIn Recruiter Index (LRI). 
 
<a href="http://www.businessinsider.in/more-than-50-people-in-delhi-sleep-in-their-denims-according-to-this-survey/articleshow/57793628.cms">ALSO READ: More than 50% people in Delhi sleep in their denims in Indian metros, according to this Westside Denim Survey</a> 
 
LRI quantifies a recruiter’s effectiveness at using LinkedIn Recruiter by measuring four essential criteria: 
 
• Build: Establishing a professional presence on LinkedIn with a complete profile 
 
• Find: Efficiently identifying qualified candidates using search and research tools 
 
• Engage: Engaging candidates with personalized conversations 
 
• Manage: Collaborating and organizing your work to maximize team effectiveness and efficiency

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